Sallie Mae is a private student loan lender that offers a range of student loan products to help students pay for college. These products include undergraduate and graduate student loans, as well as parent loans and refinancing options. Sallie Mae offers fixed and variable interest rate loans, and borrowers can choose repayment terms that fit their budget and financial goals.
Sallie Mae offers a number of borrower benefits, such as the ability to make interest-only payments while in school, the option to release a cosigner from the loan after a certain number of on-time payments, and the ability to customize repayment plans to fit individual needs. Borrowers also have the option to enroll in automatic payments, which can help them save on interest over the life of the loan.
It’s important for borrowers to carefully consider their options before taking out a student loan, and to understand the terms and conditions of their loan. Borrowers should also be aware of the potential risks and costs associated with student loans, including the possibility of default if they are unable to make their payments.